Should You Sell Your Home?

April 22, 2016 - Updated: April 22, 2016

By Royal LePage Corporate

For many, you’ll know it’s time, when posed with the question to stay or sell. Specific reasons to sell your home can come quickly, including job changes, divorce, children, health issues and marriage. But for others, the decision to stay or sell will be one of great deliberation.

“Few decisions will have bigger impact on your life than selling your home,” says Craig Blanchard, broker-owner with Royal LePage Atlantic Homestead in St. John’s, Newfoundland. “Often, the decision requires landing on priorities to ensure you are doing the right thing and you are clear about what you will gain if you chose to sell.” Blanchard suggests pondering these three crucial questions to help shape your decision:

What do you value about your current property and what do you find lacking? Make a list of pros and cons considering all features of your home and how it fits with your current lifestyle. If change is needed, see if renovating a viable option.

What are the pros and cons of your current location? Remember why you moved to your neighbourhood in the first place and consider if those reasons are still valid.

How about the financial picture? Are you looking to reduce expenses by downsizing to a smaller, less expensive home? Or, has your financial picture improved since you first purchased and it’s now time to leave this home behind?

Answering these questions will sharpen your perspective and help your decision to stay or sell your home.